More than 200 casino employees on Grand Bahama are hoping that a possible 2-month extension to the planned closure of the Isle of Capri casino will mean that their jobs may be saved. The Minister of Tourism, Vincent Vanderpool-Wallace, says the government is fairly confident that a long-term solution will be found and that an arrangement with Isle of Capri has been structured to provide an additional 60 days for a takeover operator to be approved. The government is said to be giving serious consideration to four applications for the Freeport casino operation.

The casino net revenue for the year ending May 2009 fell over 30% from the previous year and Isle of Capri had already decided to close the operation and concentrate on its core US business. The company had previously given a deadline of 1 June 2007 for closing its Grand Bahama casino but remained on the island after obtaining concessions from the government. Isle of Capri then decided to pull out in May this year but delayed its departure to 31 August. It seems that the company will now stay for a further two months.

Grand Bahama has nearly 15% unemployment and the government is keen not to exacerbate the situation with the closure of the Our Lucaya Resort. For some time it has been suggested that several overseas investors have expressed interest in the casino resort but so far no details have been forthcoming from the Ministry, although two contenders are said to be ‘outstanding’ and a final decision made in the next few days. Over 200 casino employees will be keeping their fingers crossed that finally a deal will be struck. (E-08.18.09)

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